“Developing Spectrum Innovation for Survival and Success in the Global Economy”

Abstract In the last two decades the competitive landscape for many organization has been changing rapidly in compleh and unpredictable ways. As a result, their ability to survive in the global economy often takes priority over the industrial era goal of profit maximization. This is particulary obvious now, following the onset of the current global economic crisis, the biggest since the Great Depression of the 1930s. Full-spektrum innovation capability refers to an organizatios ability to create value derived not only from new products and services for customers , but also from changes in its business model, in its culture and in the distribution of power for decision-making. The proposed approach involves pursuing innovation horizontally, working from customer needs backwards along succesivie stages of a firms value chain and vertically, at successively deeper thae assumption underlying the present bussines model. The purpose of full- spectrum innovation is twofold. The first is to achieve the outcomes needed for survival and sustainable excellenge by creating value for customers and other stakeholders. The second is to capture most of the value created from the temporary monopoly-type competitive advantage conferred from innovations. Key words: innovation types, horizontal versus vertical innovation capabilities, innovation strategies, innovation culture